The benefits of a family trust differ from those that exist when a will is prepared The key benefit in having a will is that you can choose who you want to benefit from your assets after your death. A living trust allows someone to transfer legal ownership of assets to a trustee. Medicaid does not look at an applicant's savings and other financial resources unless the person is 65 or older or disabled. Medicaid application of michigan revocable living trust is the trust were not. How to Get a Tax ID Number for a Trust or Estate in Michigan. What is the Difference Between a Family Trust and a Will.